Bankruptcy: Sila Realty Trust, Inc.

Form Type: 8-K

Filing Date: 2025-03-10

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000156792525000014

Filing Summary: On March 9, 2025, Landmark Holdings of Florida, LLC and its affiliates announced they filed for Chapter 11 bankruptcy protection. Landmark operates six long-term acute care hospitals across multiple states, including the Savannah Healthcare Facility in Georgia, the sole property owned by Sila Realty Trust, Inc. This facility accounted for approximately 0.7% of Sila's total portfolio annualized December 2024 contractual base rent. Landmark had previously entered into a $30 million loan agreement with Amerant Bank, N.A. to support operations during the COVID-19 pandemic but has faced challenges in making a principal payment due on December 9, 2024. They sought loan modification but were denied. Sila Realty Trust is monitoring the situation and has consulted legal counsel regarding Landmark's bankruptcy.